Thread: Iraqi/Dinar News before 3-12-2007 7:45PM CentralTimeZone

Iraq’s Leader Asks for Aid in Curbing Strife
Sabah Arar/AP

By ALISSA J. RUBIN
Published: March 11, 2007
BAGHDAD, March 10— Addressing representatives of 13 nations and three international groups, Prime Minister Nuri Kamal al-Maliki opened a much-anticipated regional conference here with a plea to Iraq’s neighbors to back his efforts to control the violence engulfing the country by refusing to finance attacks or allow foreign fighters to cross their borders.

"Iraq has become a front-line battlefield," Prime Minister Nuri al-Maliki told delegates at a gathering of reprentatives from Iraq's neighboring countries as well as world powers.
“Confrontation of terrorism, dear brothers, requires ceasing any form of financial and media support and religious cover, as well as logistical support and provision of arms and men that would turn out to be explosive tools killing our children, women and elders and bombing our mosques and churches,” Mr. Maliki said.

Despite enormous security preparations in the area near the heavily fortified Green Zone and a complete shutdown of streets and roads leading to the Foreign Ministry, where the meeting was held, two mortar rounds landed with thunderclaps nearby: one on a low-slung building just behind the main ministry building where the dignitaries were meeting, the other farther off.

The shells caused no casualties but served as a sharp reminder to the assembled dignitaries that Iraq’s government is under siege, its ministers, police forces, army and government workers targets for insurgents. In Sadr City, the vast northern Baghdad neighborhood of poor people, a suicide bomber killed at least seven Iraqi soldiers and wounded scores of civilians returning home from celebrating the religious rite of Arbaeen in Karbala, officials said.

Among the most closely watched participants were the representatives of the United States, Iran and Syria. The Bush administration has repeatedly accused Iran and Syria of worsening the situation in Iraq.

It has recently focused much of its attention on Iran, pressing the nation to halt its nuclear program and charging that it has not only armed and financed militants throughout the region, but that it also has been providing Iraqi militants with devastating explosive devices for use inroadside bombings.

At a briefing partway through the conference, an Iraqi government spokesman, Ali al-Dabbagh, said Iraq “did not want to pay any price for any problems between the two countries.”

Iran and the United States sent large delegations of 10 representatives each. There were handshakes between the two sides and the delegations traded language back and forth on a bland joint statement issued at the end of the conference, according to a person in the room who was not authorized to speak on the record.

They did not, as the Iraqis had hoped, split off for any one-on-one talks during the conference. Such talks would have been the highest-level direct contacts between Iran and the United States for at least two years.

Their animosities have been heightened by the war in Iraq. With such deep tensions, the Iraqis’ greatest achievement was to get so many countries with frosty relations to sit in the same room. It was at least in part a recognition that the country is a linchpin in the region.

United States Ambassador Zalmay Khalilzad echoed Mr. Maliki’s call for help from Iraq’s neighbors, saying they should “halt the flow of fighters, weapons and other lethal support to militias and other illegal armed groups and cease sectarian rhetoric and other propaganda that could incite violence.”

After the conference, his assessment of the Iranians’ pledge to help make Iraq secure was cautious. “We will wait and sees what changes on the ground, what happens on the ground in terms of weapons coming across the border, support for groups, support for militias,” he said.

In a news conference after the meeting, Abbas Araghchi, an Iranian deputy foreign minister leading Tehran’s delegation, responded: “The meeting in general was constructive, taking place in a very good environment. But it doesn’t mean we didn’t raise our concerns about what’s going on in Iraq.”

One of Iran’s chief concerns is that the United States has detained six of its diplomats. Iraq accused the Americans of “kidnapping, abducting” the men. They said the six had diplomatic immunity, including five who are on the staff of Iran’s consulate in Erbil, Mr. Araghchi said.

Mr. Khalilzad denied that American-led coalition forces had “anyone in detention who is a diplomat,” and said the coalition went after individuals “based on their role in violence. We do not target individuals based on their country of origin.”

In the meeting, the Iranians denied the American allegation that Iran has supplied arms to Iraqi militias.

“The security of Iraq is our security,” Mr. Araghchi said, adding: “I think the Americans are unfortunately suffering from intelligence failure. They have made so many mistakes and policies in Iraq because of the false information and intelligence they had at the beginning.”

Iraq had seven representatives, headed by the foreign minister, Hoshyar Zebari, and including the security adviser, Mowaffak al-Rubaie. Delegations were also present from other neighboring nations, and from Bahrain, Egypt, Russia, France, Britain, China, the United Nations, the Islamic Conference and the Arab League. In total, there were 69 representatives, three of them women.

The most immediate outcome was an agreement in principle to form working groups on border security, fuel imports and refugees, and to hold another regional meeting at the foreign minister level, perhaps as early as April. But the location was a matter of debate, with Iraq and Iran lobbying for Baghdad, and the United States pressing for Istanbul.

The working groups would involve only technical experts from Iraq’s six neighbors. However, both the Iraqis and the Americans said that any of the participants could request another country or international organization to attend as consultants, giving another opportunity for Americans and Iranians to sit together unofficially.

If there were no immediate announcements of concrete steps to solve the country’s problems, the meeting appeared at least to avoid deepening tensions among the countries at the table and was a vote of confidence for Iraq’s sovereignty.

Untouched entirely were broader problems in the region that have arisen with the heightened violence in Iraq and the involvement of Sunni and Shiite players with ties to neighboring states. Those issues include Sunni worries over rising Shiite strength in Iraq and Iran, an international investigation into possible Syrian involvement in the assassination of the former prime minister of Lebanon, Rafik Hariri, and concerns over Iran’s nuclear program.

Since the meeting was closed it was impossible to see the reaction of the delegates to the mortar rounds, but armed guards shooed reporters standing outside indoors, then transferred them to a larger building. Mr. Zebari told reporters after the conference that the shells landed while he was speaking, shortly before lunch. “We assured them this was normal,” Mr. Zebari said with a smile. “I thought, ‘This is bad targeting.’ I was surprised there weren’t more.”


http://www.nytimes.com/2007/03/11/wo..._r=1&th&emc=th

Originally Posted by neno

This Article alone, has me personally puzzeled. Why? It is early for me here. I am dwelling on this as it is driving me this morning.

I hope others can relate to this better than I. But "25 Million Dinars", is that a loan of totall for the whole sector, or is that a loan per individual in the Agriculture Industry?

To me this is very important to dictate. This Article doesnt break it down clear enogh for me to decide. Ater reading more of the Articles here on like a Pack of Tobacca cost at least 2000 dinars, tells me that imported Goods are ajusted accordingly. And can very well be adjusted more as the value of the Dinar increases.

With 27 million people in Iraq, I would asume that their are alot of Agriculure people in this Industry. So lets say that that 25 million dinar loan is for each person in this Industusry. And at todays exchange value in Dollars is $0.000782 (1279). So A million dinars equalls $782.00 X 25 Million (Per Person or Total for the Industry) = $19,550.00

That is alot of money now for each person in this Industry, Or is it? I difinently know it is not for a total for all now. So if I am figuring it that way and these people get this that are in this Industry, we have to figure if that is a appropriate amount to succeed in Iraq's Agriculture Arena.

To me personaly, in the US minded cost, this wouldnt buy the fuel for the tractors to plow the fields. I am just trying to dictate that a exchange value of the dinar has to come. But it the loans were to be up to 25 million per citizen in this Industry, I can not see the exchange value at 1:1

Everyone would want to be a Farmer very quick. And also in the US, a farmer is one of the roughess and less rewarding feilds in the line of income. So with that thought, would to me also indicate that other Industries would be even more valuable in the value of dinars.

So what I am asking here is, is this a total value put to the Industry? I dont think so, I think it is to each citizen in the Industry. And if I am right, we want see a 1:1 exchange value. This is just what I am getting from this. That would make them each upto 25 Million Dollars.

I welcome any clarification to my thoughts.

I am puzzled by this also..... If they are passing out 25 millions per farmer, I don't see a 1:1 exchange either. I welcome clarification and thoughts also.

Originally Posted by neno

This Article alone, has me personally puzzeled. Why? It is early for me here. I am dwelling on this as it is driving me this morning.

I hope others can relate to this better than I. But "25 Million Dinars", is that a loan of totall for the whole sector, or is that a loan per individual in the Agriculture Industry?

To me this is very important to dictate. This Article doesnt break it down clear enogh for me to decide. Ater reading more of the Articles here on like a Pack of Tobacca cost at least 2000 dinars, tells me that imported Goods are ajusted accordingly. And can very well be adjusted more as the value of the Dinar increases.

With 27 million people in Iraq, I would asume that their are alot of Agriculure people in this Industry. So lets say that that 25 million dinar loan is for each person in this Industusry. And at todays exchange value in Dollars is $0.000782 (1279). So A million dinars equalls $782.00 X 25 Million (Per Person or Total for the Industry) = $19,550.00

That is alot of money now for each person in this Industry, Or is it? I difinently know it is not for a total for all now. So if I am figuring it that way and these people get this that are in this Industry, we have to figure if that is a appropriate amount to succeed in Iraq's Agriculture Arena.

To me personaly, in the US minded cost, this wouldnt buy the fuel for the tractors to plow the fields. I am just trying to dictate that a exchange value of the dinar has to come. But it the loans were to be up to 25 million per citizen in this Industry, I can not see the exchange value at 1:1

Everyone would want to be a Farmer very quick. And also in the US, a farmer is one of the roughess and less rewarding feilds in the line of income. So with that thought, would to me also indicate that other Industries would be even more valuable in the value of dinars.

So what I am asking here is, is this a total value put to the Industry? I dont think so, I think it is to each citizen in the Industry. And if I am right, we want see a 1:1 exchange value. This is just what I am getting from this. That would make them each upto 25 Million Dollars.

I welcome any clarification to my thoughts.

Tractors are few and far between in Iraq Neno...most field work is done by hand so maybe the sum of 25 million dinars if used for seed, would be a lot.

Originally Posted by JT2154

I am puzzled by this also..... If they are passing out 25 millions per farmer, I don't see a 1:1 exchange either. I welcome clarification and thoughts also.

What if they are saying the 25 million dollar loan is the total. For the whole sector and for all the workers? That would be a pretty nice paycheck at 1:1..... say the farmers get 30,000 dinar.

that much seed for each farmer would be alot!!

Iranian bank to enter Iraq economy
Press TV - [11/03/2007]

A major Iranian bank will begin operations in war-torn Iraq within the next few days, the head of the Iran-Iraq Joint Chamber of Commerce said.

Hassan Tiz-Maghz said during a high-profile meeting of Iranian and Iraqi economic officials in Tehran that Iran also plans to set up an insurance firm in Iraq, Fars news agency reported.

"Bank Melli Iran will begin work in Iraq within the next few days in cooperation with an Iraqi development bank," Tiz-Maghz said, adding that Iran has also paved the way for establishing an insurance company and an inspection facility in Iraq to examine the quality of goods Iranian companies export to that country.

Iraqi Trade Minister Abd al-Fallah Hassan al-Sudani, who was among the participants at the meeting, said the Iraqi government is seeking to privatize the economy of the oil-rich nation.

"Baghdad favors a market economy," the Iraqi minister said.

He said the Iraqi private sector was badly damaged under former dictator Saddam Hussein, and stressed that efforts were currently underway to revitalize private enterprise in the war-torn nation.

The minister added that last year the Iraqi government allowed private companies to import oil derivatives. Iraq's oil reserves are currently at 115 billion barrels.

"Iran possesses great capabilities," the minister continued, calling for the implementation of prior agreements reached between the two countries.

A senior Iraqi economic delegation was in Tehran earlier this week to explore avenues for cooperation between Iran and Iraq.

Iran has exported over $2 billion worth of non-oil goods to Iraq since last March. The country is the second largest exporter of goods to Iraq after the United Arab Emirates.

Iraq imported a total $13 billion of goods in 2006. The nation's annual budget also increased from $33 billion in 2006 to $41 billion in 2007.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3387

Originally Posted by Lunar

Tractors are few and far between in Iraq Neno...most field work is done by hand so maybe the sum of 25 million dinars if used for seed, would be a lot.

and you gotta take into consideration that after the revalue they will adjust prices accordingly also. if youve noticed the monies theyve handed out so far arent being cashed out in any large quantities and we keep hearing news of iraqis hanging onto their dinar. i think they have promised these folks a large increase in their dinar value and thats why they are hanging onto it. why else would you continue to starve but for anticipation of better things coming shortly?

from the looks of things at this point i would say they might not do anything with the dinar until after that sba expires on the 22nd. sure i would love to be wrong but weve always known the potential for this thing not to be done UNTIL that sba was over anyway. i do think that march is our month however. it will be march madness indeed just having to wait!!

Oil law shows Iraq on path to success
March 11 2007
By Zalmay Khalilzad

COMMENTARY

UNDER THE national hydrocarbon law approved last week by Iraq's Council of Ministers, oil will serve as a vehicle to unify Iraq and will give all Iraqis a shared stake in their country's future. This is a significant achievement for Iraqis' national reconciliation. It demonstrates that the leaders of Iraq's principal communities can pull together to peacefully resolve difficult issues of national importance.

Resolving concerns about control of oil is central to overcoming internal divisions in Iraq. The country has the third-largest oil reserves in the world, and more than 90 percent of federal income comes from oil revenue. The effective and equitable management of these resources is critical to economic growth as well as to developing a greater sense of shared purpose among Iraqi communities.

The goal of Iraq's leaders was to draft a law that ensured that all Iraqis could be confident they would receive their fair share of the benefits of developing the country's resources, that the revenue from oil and gas would enable a decentralization of power while maintaining national unity, and that Iraq would adopt the best international practices for the development and management of its mineral wealth. By these standards, the hydrocarbon law is a great success. It:

-- Reaffirms that oil and gas resources are owned by all the people of Iraq and contains a firm commitment to revenue-sharing among regions and provinces on the basis of population.

-- Establishes a predictable framework and processes for federal-regional cooperation that demonstrate the government's commitment to democracy and federalism.

-- Creates a principal policymaking body for energy -- the Federal Council on Oil and Gas -- that will have representatives from all of Iraq's regions and oil-producing provinces.

-- Ensures that all revenue from oil sales will go into a single national account and that provinces will receive direct shares of revenue, thereby significantly increasing local control of financial resources.

-- Establishes international standards for transparency and mandates public disclosure of contracts and associated revenue and payments. This is essential to build confidence in the new political order and to counter corruption.

The law defines a role for the Oil Ministry that is primarily regulatory, which is the modern standard and which will also harness the market to achieve the optimal development of Iraq's resources. It provides the legal framework to enable international investment in Iraq's oil and gas sectors, a break from the statist and overcentralized practices of the past. It also requires best practices in environmental protection and field management and development, ensuring that the environment is not damaged and that hydrocarbon assets are not wasted by poor practices of the past.

While the draft law will need to be enacted by the Iraqi Council of Representatives when it returns from recess, the prospects for passage are excellent because all the major parliamentary blocs are represented in the Cabinet. Companion legislation will be required in several areas, and Iraqi leaders hope to complete the entire package of hydrocarbon legislation by the end of May.

Arriving at this agreement was not easy. It has taken other countries years to complete such legislation. While negotiating this law presented special challenges for the federal government, the Kurdistan regional government and the leaders of key political blocs, the approval of the draft by the Council of Ministers sets a precedent for problem-solving and cooperation that is critical to the stabilization and development of Iraq.

This is the first time since 2003 that all major Iraqi communities have come together on a defining piece of legislation. A national reconciliation that stabilizes Iraq can be achieved if similar compromises are made on the future of de-Baathification and on amending the constitution. The agreement on the oil law should give us confidence that Iraqis are willing and able to take the steps needed for Iraq's success.

Khalilzad is the U.S. ambassador to Iraq.

ContraCostaTimes.com | 03/11/2007 | Oil law shows Iraq on path to success

Voices of Iraq: Iraq-Currency

Sunday, March 11, 2007

Iraq-Currency

Demand for dollar down as new policy expected in Central Bank auction

By Dergham Mohamed Ali
Baghdad, March 11, (VOI) – Demand for the dollar was down in the Iraqi Central Bank’s daily auction on Sunday, reaching $45.395 million, compared with $54.145 million on Thursday, amid expectation of a new policy to sell dollars.
In its daily statement, the bank said it had covered all bids, which included $8.845 million in cash and $36.550 million in foreign transfers, at an exchange rate of 1,279 dinars per dollar, unchanged from Thursday.
None of the 10 banks that participated in Sunday's auction offered to sell dollars.
Abdul-Razzaq al-Abaiji, an economist, told VOI "the decline in today's demand for the dollar was due to the expectation that a new policy will be adopted by the Central Bank to raise the dollar exchange rate in upcoming sessions."
The Iraqi Central Bank runs a daily auction from Sunday to Thursday.

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Halliburton to Move Headquarters To Dubai, Keeping Office in Houston
Associated Press
Word Count: 592 | Companies Featured in This Article: Halliburton
DUBAI -- U.S. oil services giant Halliburton Co. will shift its corporate headquarters from Houston to Dubai, Chief Executive Dave Lesar said Sunday.

Halliburton will maintain a corporate office in Houston, but the company will be controlled from its office in the United Arab Emirates, company spokeswoman Cathy Mann explained.

"Halliburton is opening its corporate headquarters in Dubai while maintaining a corporate office in Houston," Ms. Mann said in an email to the Associated Press. "The chairman, president and CEO will office from and be based in Dubai to run the company from the UAE." She clarified "he will work ...

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